JPMorgan CEO Dimon's pay jumps to $20.8 million (Reuters)

Thursday, April 7, 2011 6:01 PM By dwi

NEW YORK (Reuters) – After craft the No. 2 U.S. slope through the financial crisis, JPMorgan Chase & Co (JPM.N) Chief Executive Officer Jamie Dimon is today existence rewarded.

Dimon saw his amount rectification move nearly 1,500 percent to $20.8 meg in 2010 from $1.3 meg a assemblage earlier, a weekday restrictive filing shows.

In comparison, actual median U.S. household income was just $49,777 in 2009, according to the U.S. Census Bureau.

Large pay packages for bankers who oversaw transactions that brought the concern economy to the bounds of founder in 2008 hit become a flash saucer for investors.

Anger has eased, but banker pay relic a sensitive issue, especially toward lenders that took taxpayer bailout money.

Many analysts analyse JPMorgan as the healthiest of the largest U.S. advertizement banks, having skirted the poorest of the credit losses that hurt some rivals including Bank of USA Corp (BAC.N) and Citigroup Inc (C.N).

They credit the 55-year-old Dimon, who became chief chief on Dec 31, 2005, for having enabled JPMorgan to apace repay its $25 1000000000 of bailout money.

JPMorgan is also one of the prototypal bounteous banks to improve its dividend after passing a ordinal agent Reserve "stress" test.

However, Dimon has criticized restrictive reforms by the Obama administration, saying they could crimp growth.

In his period shareholder honor posted on the bank's website, Dimon said JPMorgan could acquire $22 1000000000 to $24 1000000000 in a "more normal" environment, up from $17.4 1000000000 in 2010. He said acquire has fallen brief because mortgage losses hit been "extraordinarily high," at $4 1000000000 a assemblage and that much losses module rest "elevated" for a while.

DIMON NEEDS 3 YEARS TO SELL HOME

Dimon's 2010 salary remained at $1 million. He was also awarded a $5 meg bonus, nearly $8 meg in have awards and $6.2 meg in option awards.

His 2010 rectification also included $579,624 of perks, including $421,458 of "moving expenses," $95,293 to ingest consort bomb and $45,730 for personal automobile use. Most of the rest went toward bag security.

Like some Americans who hit had pain commerce their homes, Dimon did too. The agitated expenses colligate to Dimon's having eventually in 2010 oversubscribed the Chicago-area bag he had lived in before commerce Bank One Corp to JPMorgan in 2004. He put the bag up for sale in 2007 when his kinsfolk touched to New York.

Dimon's amount rectification in 2010 lapse brief of the $35.8 meg he was awarded in 2008.

Goldman Sachs Group Inc (GS.N) Chief Executive Lloyd Blankfein saw rectification move to $14.1 meg in 2010 from $1 million, another restrictive filing shows.

Other slope CEOs had modify rectification in 2010. author metropolis & Co's (WFC.N) John Stumpf saw rectification fall to $19 meg from $21.3 million. Bank of America's Brian Moynihan saw rectification fall 70 percent to about $1.9 million, though in early 2011 he got a $9.1 meg bonus.

Citigroup CEO Vikram Pandit's rectification was $1 in 2010, but his salary lonely has risen to $1.75 meg in 2011.

JPMorgan shares winking downbound 0.5 percent at $47.40 on the New royalty Stock Exchange on Thursday.

(Reporting by Clare Baldwin and Jonathan Stempel; redaction by Andre Grenon and Tim Dobbyn)


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